Gold prices on Monday dropped ₹2,374 to ₹1,53,220 per 10 grams in futures trade amid a fall in spot demand.
On the Multi Commodity Exchange, gold contracts for the August delivery traded lower by ₹2,374, or 1.53 per cent, at ₹1,53,220 per 10 grams in a business turnover of 1,730 lots.
Analysts attributed the fall in yellow metal prices to weak global cues.
Globally, gold futures declined by 0.96 per cent to $4,286.81 per ounce in New York.